Shiba Inu Surges 14% In A Day: Is An additional 180% Rally Within Reach?

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As a seasoned crypto investor with a knack for spotting trends and patterns, I find myself intrigued by the recent surge of Shiba Inu (SHIB) and its potential bullish trajectory. Having witnessed the memecoin market’s rollercoaster ride since its inception, I can attest that it’s always a thrilling dance between hope and fear.

Right now, Shiba Inu (SHIB), which is the second largest digital currency based on memes and follows Dogecoin (DOGE) in terms of market value, is witnessing a significant price increase. This uptick comes after it breached crucial resistance points over the past week. At the moment, SHIB is being traded at approximately $0.00002877, marking a 14% growth over the last 24 hours, suggesting a resurgence of investor attention.

Although the memecoin has dropped by 4.3% over the last week and is currently 66.6% lower than its peak of $0.00008616 in 2021, some analysts are optimistic about its future and predict a bullish trend for SHIB.

Shiba Inu’s Next Big Move

In a recent update on platform X, well-known cryptocurrency expert Javon Marks expressed optimism about Shiba Inu (SHIB)’s price trends. He pointed out a consistent bullish pattern, suggesting that there could be a substantial price increase ahead.

“Shiba Inu has confirmed yet another bullish pattern,” he wrote, emphasizing that similar patterns in the past have led to upward continuations.

Based on Mark’s analysis, the sudden surge in SHIB might propel its price up to approximately $0.000081. This would signify a significant jump of around 180% compared to its current worth.

Mark explained that reaching this goal might have already started happening, considering the asset’s latest activity. If it does indeed surge, he pointed out, Shiba Inu (SHIB) could become a top player in the altcoin sector, capturing the interest of both individual and institutional investors.

Shiba Inu (SHIB) has recently confirmed another bullish trend, which could lead to a significant upward price movement. With ongoing continuations, the potential for a major rise seems high. However, as breakouts are still holding, and one of them suggests a possible price target of $0.000081, it might be more than some anticipate!

With…

— JAVONMARKS (@JavonTM1) December 11, 2024

Broader Altcoin Market Outlook

As Mark was writing his article about SHIB, a well-known analyst called Captain Faibik shared his thoughts on the present situation of various altcoins.

As a researcher examining the latest trends in cryptocurrency markets, I recently observed an intriguing pattern in the Bitcoin Dominance chart, which appears to be following an ascending trendline, hinting at a potential 48% correction. However, despite this bearish signal for BTC, Faibik’s perspective on the broader altcoin market remains optimistic.

Specifically, Faibik advised investors to exhibit patience, considering the current downturn as a chance to buy instead of triggering panic sales. He emphasized, “Altseason isn’t here quite yet; this is merely a preview. Patience consistently proves beneficial.

Moreover, Mark’s optimistic perspective didn’t stop at SHIB; it also encompassed Dogecoin (DOGE), a popular meme-based cryptocurrency that garners significant attention.

In a separate analysis, Marks noted that DOGE is exhibiting strength and could potentially rally to $0.6533, possibly reaching as high as $1.2511 if it breaks key resistance levels.

As an analyst, I’m pointing out that this could potentially see a significant jump of between 56% and 90% over its current value, underscoring the possibility of continued growth within the memecoin market.

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2024-12-12 16:16